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Argentina sale brings in $950m for Shell

Shell said that it was selling its downstream business in ­Argentina, which includes 645 petrol stationsMARCOS BRINDICCI/REUTERS

Emily Gosden: April 25. 2018

Royal Dutch Shell has agreed to offload its refining and marketing business in Argentina to its Brazilian joint venture for $950 million.

In the latest stage of a $30 billion divestment programme, the Anglo-Dutch energy group said that it was selling its downstream business in Argentina, which includes a refinery in Buenos Aires, 645 petrol stations and operations selling liquefied petroleum gas, marine and aviation fuels. read more

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Shell Invests in the Vito Development in the Gulf of Mexico

Shell rendering of its Vito deep-water development in the U.S. Gulf of Mexico. Vito will feature a new, simplified host design and associated infrastructure.

HOUSTON, April 24, 2018 /PRNewswire/ — Shell Offshore Inc. (Shell), a subsidiary of Royal Dutch Shell plc, today announces the final investment decision for Vito, a deep-water development in the U.S. Gulf of Mexico with a forward-looking, break-even price estimated to be less than $35 per barrel. This decision sets in motion the construction and fabrication of a new, simplified host design and subsea infrastructure. read more

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Shell holds tight to shale basin in Argentina

The Dutch supermajor is selling off everything from its retail stations to a refinery in Argentina, but won’t give up its stake on the Vaca Muerta shale.

By Daniel J. Graeber: April 24, 2018

April 24 (UPI) — The Vaca Muerta shale formation in Argentina has substantial growth potential remaining, Shell said Tuesday after it unloaded its downstream business.

For close to $1 billion in cash, Royal Dutch Shell said it was selling off everything from its retail service stations to its refinery in Buenos Aires to Raízen, the third largest energy company in Brazil. After the close, Shell will still have a footprint in the downstream, or refinery side, of the energy sector in Argentina. read more

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BRIEF-Shell To Sell Its Downstream Business In Argentina To Raízen

Reuters Staff: APRIL 24, 2018

April 24 (Reuters) – Royal Dutch Shell PLC:

* SHELL – SHELL TO SELL ITS DOWNSTREAM BUSINESS IN ARGENTINA TO RAÍZEN

* SHELL – SALE INCLUDES BUENOS AIRES REFINERY, AROUND 645 RETAIL STATIONS, LPG, MARINE FUELS, AVIATION FUELS, BITUMEN, CHEMICALS AND LUBRICANTS BUSINESSES

* SHELL – SALE DOES NOT INCLUDE SHELL’S UPSTREAM INTERESTS IN THE VACA MUERTA SHALE FORMATION

* SHELL – BUSINESSES ACQUIRED BY RAÍZEN WILL CONTINUE RELATIONSHIPS WITH SHELL THROUGH COMMERCIAL AGREEMENTS, REPRESENTING ESTIMATED VALUE OF $0.3 BILLION.

* SHELL SAYS “SEES SUBSTANTIAL LONG-TERM GROWTH POTENTIAL IN ARGENTINA’S SHALE RESOURCES” Source text (go.shell.com/2qUesxW) Further company coverage: read more

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Shell, Inpex near finish line in race to export north Australian LNG

Henning Gloystein: APRIL 24, 2018

SINGAPORE (Reuters) – Shell and Inpex are on the final stretch of a years-long race to export gas from offshore northern Australia, where both have spent billions of dollars building the world’s biggest maritime vessels to grab a slice of Asia’s booming LNG market.

Anglo-Dutch energy major Royal Dutch Shell and Inpex, Japan’s biggest oil and gas producer, are vying for first gas from two overlapping fields after delays and cost overruns that have plagued both projects. 

The pair have spent billions on offshore facilities, including Shell’s 490 meter (1,600 ft) long Prelude floating liquefied natural gas unit and Inpex’s Ichthys Explorer semi-submersible platform, both the world’s largest of their class. read more

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Oil price rise sets up Shell for big profit

Shell reported underlying profits of $16 billion last yearDANIEL KALISZ/GETTY IMAGES

Emily Gosden, Energy Editor: April 23 2018

Royal Dutch Shell is expected to report its strongest quarterly results since 2014 this week.

Boosted by the rebound in oil prices, the Anglo-Dutch energy company is expected to announce underlying profits of $5.3 billion for the three months up to March, compared with $3.8 billion in the same period last year.

Such a result would be the first time that profits have topped $5 billion since the third quarter of 2014, when crude prices were just beginning to fall below $100 a barrel. read more

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Shell’s fresh bid for Ogoni oilfield stirs tension

By Kelvin Ebiri (South-South Bureau Chief) 22 April 2018

An atmosphere of unrest is looming over Ogoni land, following the renewal request by Shell Petroleum Development Company for Oil Mining Leases (OML11).

Already, the Movement for the Survival of the Ogoni People (MOSOP) and Ken Saro-Wiwa Associates (KSWA) have intensified mobilisation of the people for a possible showdown with authorities over the development, coming when the United Nations Environment Programme (UNEP) report for the cleanup of Ogoni is yet to be implemented.

Shell has consistently maintained it is not interested in returning to Ogoni. The Guardian, however, discovered it wrote a letter dated October 16, 2017 to the Minister of State for Petroleum, seeking the renewal of its lease, due to expire June 2019.  read more

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Big Oil’s big identity crisis

Big Oil is under pressure to clean up its act CREDIT: MARY ALTAFFER/AP

Europe’s largest oil super-major is not really an oil company, according to the boss of Royal Dutch Shell.

This is just as well for the energy giant, which plans to halve its carbon emissions within the coming decades as it bids to bring its offering in line with the global war on climate change.

“If anything we are more a gas and oil company, and on top of it, of course, we are a much broader energy company, as well,” Ben van Beurden insists. read more

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Long-stalled LNG plant revived as Asia ditches coal

TOKYO — An international consortium led by Royal Dutch Shell and includes China National Petroleum Corp., Korea Gas and Japanese trading house Mitsubishi Corp. is moving ahead on a long-stalled liquefied natural gas plant in Canada, as environmental concerns drive Asia toward cleaner energy sources.

Japanese plant engineering company JGC and American counterpart Fluor jointly won orders to design and build the project in the British Columbia community of Kitimat on Canada’s Pacific coast for an estimated $14 billion. read more

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Shell’s Profits Soar From Strong Asian Demand

By Tsvetana Paraskova – Apr 20, 2018, 10:00 PM CDT

Oil major Shell has snapped up over 8 million barrels of June-loading crude oil grades from the Middle East and Russia and has resold some of the cargoes in Asia, taking advantage of the strong Asian demand, Reuters reported on Friday, citing five trading sources.

Wider Brent premium over the Middle Eastern benchmark Dubai this month has made Atlantic crude oil supplies more expensive than the Middle Eastern and Russian supplies, which are priced off the Dubai benchmark. read more

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Nigeria’s Buhari hints at $15 billion deal with Shell, says ‘we are not doing too badly’

  • Nigeria’s President Muhammadu Buhari met with Shell on Wednesday as part of talks that could lead to a $15 billion investment in his country.
  • Oil accounts for approximately 35 percent of Nigeria’s gross domestic product, according to OPEC.

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Daniel Leal | Olivas-WPA Pool | Getty Images: Nigerian President Muhammadu Buhari at the Commonwealth Business Forum at the Guildhall on April 18, 2018, in London, England.

Nigerian President Muhammadu Buhari met with Shell on Wednesday as part of talks he said were to secure $15 billion of investment in his country.

“I saw Shell Group, they came here, they saw me, they are preparing to invest $15 billion in Nigeria… so really, we are not doing too badly,” Buhari said to applause at the Commonwealth Business Forum in London on Wednesday. He was speaking as part of a panel on the ease of doing business between Commonwealth countries. read more

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Holding Onto Major Clients Is Now Tougher for WPP

Martin Sorrell’s departure as chief executive officer of WPP Plc comes at a sensitive time for the world’s largest advertising company as it faces an intense period of fighting to keep major clients.

Here are some key accounts that WPP will want to defend from rivals such as Publicis Groupe SA and Omnicom Group Inc. after his departure:

4. Shell

Europe’s largest energy company Royal Dutch Shell Plc is reviewing its global creative and media account, held by WPP’s J. Walter Thompson and MediaCom for decades, according to The Drum. The account is worth more than $200 million, according to AdAge. read more

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Big Oil Bids to Burnish Credentials in War on Climate Change

The world’s biggest oil companies, for long typecast as villains of climate change, are seeking to reinvent themselves as environmental pioneers.

“We’re not going to be sitting back and say let’s see what society does and we’ll follow that,” said Ben van Beurden, chief executive officer of Royal Dutch Shell Plc. “We’re more than prepared to be assertive and lean forward and say: ‘This is what it takes.”’

Irked by a shareholder resolution that would force Europe’s largest oil company to create specific emissions targets, the CEO took the unusual step of engaging with five reporters on Monday about Shell’s vision for a decarbonized world. Not only is Shell implementing its own, much stronger, measures to manage the energy transition, according to Van Beurden, but it can also drag the rest of the world along with it. read more

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Royal Dutch Shell to resume deep-water exploration off Egypt

Reuters Staff: APRIL 17, 2018

ALEXANDRIA, Egypt (Reuters) – Royal Dutch Shell said it will resume deep-water exploration for oil and gas off Egypt’s Mediterranean coast, Executive Vice President Sami Iskander told a news conference on Tuesday.

Egypt is looking to production from recently discovered fields to halt energy imports by 2019.

A petroleum ministry official said last month that new production at Shell’s West Nile Delta field 9B is expected to reach 350-400 million cubic feet per day by 2019. read more

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Shell’s Climate Liability Threat Goes Global

Apr. 16, 2018 12:44 PM ET

Summary

  • A Netherlands environmental NGO has threatened to bring yet another climate change lawsuit against Royal Dutch Shell if it does not fundamentally change its business operations.
  • While multinational corporations are constantly being threatened with legal action, this specific one is unique.
  • It has the hallmarks of recent climate lawsuits against Shell in the U.S., but would be based in a court system that has mandated stricter climate policy before.

Can non-shareholder private entities force oil and gas companies to accept lower returns on capital? Investors in Royal Dutch Shell (RDS.A) (RDS.B) will receive an answer to this question if an environmental NGO moves forward with a threatened lawsuit in the Netherlands that would require the company to do exactly that.

Notably, Shell recently committed to reducing its greenhouse gas emissions by 50% through 2050 via billions of dollars of investments in renewable energy capacity. The NGO in question, Friends of the Earth Netherlands (aka Milieudefensie), deems this effort insufficient and insists that the company must abandon its oil and gas reserves and be “net zero” (i.e., no net emissions of greenhouse gases) by that date instead. While Shell’s investors largely shrugged off the threat (see figure), if they even noticed it at all, the development represents the opening of a new front in the lawsuits being waged by U.S. municipalities against the company and its Big Oil competitors. read more

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Shell CEO asks investors to reject shareholder vote on emissions

Apr. 16, 2018 11:41 AM ET|By: , SA News Editor

Royal Dutch Shell (RDS.A, RDS.B) urges shareholders to oppose a resolutionfrom activist investors that would hold the company to firm targets for cutting carbon emissions, even as it reiterates its commitment to fighting climate change.

Climate activist Follow This is offering a resolution for Shell’s May 22 annual general meeting urging the company to set more aggressive targets aligned with the Paris climate deal goal of limiting global warming to “well below” 2 degrees Celsius.

“We will not be tied to an approach that potentially moves too quickly or too slowly to this transition,” says CEO Ben van Beurden. “If society finds a way to go faster, we will go faster… but we cannot do it single-handedly.” read more

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Shell’s CEO Tells Activists and Investors: Trust Me to Cut CO2

Chief Executive Officer Ben van Beurden has the same message for activists seeking to bind Royal Dutch Shell Plc to deep emissions cuts, and investors concerned about the merits of shifting away from oil and gas: Trust me.

He advised shareholders on Monday to reject a resolution from climate group Follow This that would set clear targets for the company’s greenhouse-gas emissions, more specific than its current broad “ambition.” He also reiterated his intention for Shell to make most of its money from clean energy in 20 years, such as renewables, hydrogen or carbon capture in 20 years.  read more

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Shell defends climate strategy in clash with investors

Ron Bousso

LONDON (Reuters) – Royal Dutch Shell defended its ambition to cut carbon emissions on Monday, urging investors to oppose a shareholder resolution arguing that the oil and gas giant is not doing enough to meet international targets to tackle climate change.

The Anglo-Dutch company, like many of its peers, has faced growing investor pressure to address the need to reduce fossil fuel burning, forcing it to seek a delicate balance with a need to secure growing returns from its traditional business. read more

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SHELL SHOULD HAVE BEEN MORE ASSERTIVE IN CLIMATE CHANGE WARNINGS, CEO SAYS

By Janene Pieters on Monday April 16, 2018

Shell “should have been more assertive” in its warnings about climate change, Ben van Beurden, CEO of the Dutch oil and gas giant said in a podcast by Studio Energie. Environmental group Milieudefensie recently for the role it played in the climate problems the world currently faces. 

In 1991 Shell released a film that outlined a disturbing picture of the problems climate change will cause in the future. “Perhaps we should have talked louder, maybe we should have made a bigger problem out if it? To be honest, I think, if we look back on that, we could and should have been more assertive”, Van Beurden said in the podcast, according to NOS. “Because now the problem is put on us, while ultimately it is of course a much broader social problem.”  read more

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Cost of shutting off Groningen gas mounts, minister in dispute with Shell, Exxon

April 13, 2018

Economic affairs minister Eric Wiebes is embroiled in a dispute with Shell and ExxonMobil about the bill for closing the gas taps in Groningen, broadcaster NOS said on Friday.

The dispute revolves around a potential billion euro claim facing the Dutch state from the oil giants, NOS says. It bases its claim on documents obtained using freedom of information legislation.

If the plans goes ahead to close off the Groningen fields by 2030, some €50bn to €125bn worth of gas will remain underground. And documents from 2016 show the oil companies will make a claim against the Dutch state for lost income, the broadcaster said. read more

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SHELL, EXXON WANTS COMPENSATION FROM DUTCH GOV’T FOR GRONINGEN GAS LEFT UN-EXTRACTED: REPORT

Milieudefensie and Groningen residents dump fracking earthquake rubble in front of the Ministry of Economic Affairs in The Hague, 26 Oct 2017. Photo: @milieudefensie / Twitter

Shell and Exxon wants the government to pay them billions of euros in compensation for the gas that will not be extracted from Groningen now that the government is g, NOS reports.

With the government’s plans to stop gas extraction in Groningen, between 50 and 120 billion euros of gas will remain un-mined, according to documents NOS got by appealing to the freedom of information act. The oil companies want compensation for that. Previously Minister Erik Wiebes of Economic Affairs and Climate said that the government “does not want a claim for damage over the gas remaining in the ground”, according to the broadcaster.  read more

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Shell takes its turn in the climate change spotlight

Photo: Michael Macor, Staff / The Chronicle

What did you know and when did you know it? Those are the questions increasingly directed at Big Oil as concerns about global warming, rising sea levels and climate change grow.

For a few years now, Exxon Mobil has faced a bombardment of allegations — which the Texas oil company denies — that it knew about climate change related to fossil fuels in the 1970s and buried the evidence. State investigations in New York and Massachusetts continue to focus on whether Exxon Mobil misled the public and the company’s investors. read more

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Shell’s Oil Isn’t Stranded Today, But Tomorrow Matters More

Current oil reserves are only part of the equation for assessing future risks.

By Liam Denning: 12 April 2018, 18:36 BST   Photographer: Andrey Rudakov/Bloomberg  

The 92220 Evening Star was the last steam locomotive built by British Rail, back in 1960. It was retired only five years later, as diesel and electrification consigned the age of steam to history.

Building an engine and using it for only five years is a great way to waste investment. Which is why there’s a raging debate today about stranded assets in the fossil-fuels business. Given the planet’s diminishing capacity to absorb greenhouse gases without potentially catastrophic environmental effects, there is an implied cap on how much more oil, gas and coal can be used (absent some major breakthrough in carbon-capture technology). And, as happened with the Evening Star, rival ways to power transportation threaten to overturn the internal combustion engine’s dominance. So producers increasingly face questions about whether some of their oil and gas reserves will ever actually be produced — with obvious implications for their stocks. read more

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Shell sees no risk of ‘stranded assets’ as reserves life shrinks

FILE PHOTO: Electric car chargers are seen at the Holloway Road Shell station where Shell is launching its first fast electric vehicle charging station in London, Britain October 18, 2017. REUTERS/Mary Turner/File Photo

Dmitry Zhdannikov: APRIL 12, 2018 LONDON (Reuters) – Royal Dutch Shell said on Thursday it saw little risk of having “stranded assets” in its portfolio as the world shifts to low carbon energy because the oil major will have four-fifths of its current oil and gas reserves extracted before 2030 anyway. 

Shell has one of the lowest reserves life ratio among its peers and last year it saw reserves plunging to new lows after divesting a large number of assets.

The major now sits on 12.2 billion barrels of oil equivalent, down from 13.2 billion at the end of 2016, and enough to sustain the current annual production of 1.383 billion barrels for less than nine years. read more

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Shell to transition from oil when it ‘makes commercial sense’

Oil giant Shell said today that it will continue to “sell the oil and gas that society needs” but is also positioning itself to transition further into low-carbon energy when it “makes commercial sense”.

Shell’s Energy Transition Report outlines the firm’s continued commitment to oil exploration while setting out its strategy for the future changes in the energy sector.

The oil company said that it estimates that 80% of its current proven oil reserves “will be produced” by 2030, and only expects to see 20% production after that time.

In today’s report, Shell said outlined that it will look to invest up to £3.5billion in conventional oil and gas and the same amount again in oil products, while also investing up to £1.4billion in new renewable energies. read more

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Shell envisions long road to low carbon future

By Daniel J. Graeber  |  April 12, 2018

April 12 (UPI) — A transition to a cleaner economy is underway as evidenced by a rate of decline in global oil demand, but it’s a long journey, Royal Dutch Shell said Thursday.

The Dutch supermajor has committed to reducing its carbon footprint in half by 2050 and said it would invest about $2 billion per year on alternative energy solutions until the end of the decade. CEO Ben van Beurden said that Shell would play its part in meeting global energy demand with cleaner options. read more

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Intrigue Thickens Over OML 42 As Neconde Sues Shell

Indigenous energy firm, Neconde, has sued International Oil Company (IOC), Royal Dutch Shell in London, for allegedly refusing to make remittances to it after it had bought a stake in controversial oil block Oil Mining Lease (OML) 42. In late March, Shell had instituted a criminal procedure against Peter Robinson, a former employee, in the Netherlands, in relation to the sale of the aforementioned block.

BY SAHARA REPORTERS, NEW YORK APR 10, 2018

Indigenous energy firm, Neconde, has sued International Oil Company (IOC), Royal Dutch Shell in London, for allegedly refusing to make remittances to it after it had bought a stake in controversial oil block Oil Mining Lease (OML) 42. read more

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Shell Losses 9,000 Barrels of Oil per Day In Nigeria In 2017

Multinational oil company, Royal Dutch Shell says it lost 9,000 barrels of crude oil to theft from the pipeline network of its Nigerian operation per day in the 2017 fiscal year. Shell made this known in its ‘Report on Payments to Governments for the Year 2017’ released on Monday, April 9.

BY SAHARA REPORTERS, NEW YORK APR 10, 2018

Multinational oil company, Royal Dutch Shell says it lost 9,000 barrels of crude oil to theft from the pipeline network of its Nigerian operation per day in the 2017 fiscal year. read more

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Shell’s Payment To Nigeria Up By 19 % In 2017

Payments made by Royal Dutch Shell, the major international oil company operating in Nigeria to the federal government increased from $3,638,241,040 in 2016 to $4,322,742,582 in 2017. The rise in payment was as a result of a 10 % growth in production, the oil company said in its 2017 sustainability report published on Monday.

BY SAHARA REPORTERS, NEW YORK APR 10, 2018

Payments made by Royal Dutch Shell, the major international oil company operating in Nigeria to the federal government increased from $3,638,241,040 in 2016 to $4,322,742,582 in 2017.

The rise in payment was as a result of a 10 % growth in production, the oil company said in its 2017 sustainability report published on Monday.

The company said in the report that output from its operated fields averaged 464,000 barrel of oil equivalent per day (boe/d) while production from offshore and deep-water fields managed by its local subsidiary, Shell Nigeria Exploration and Production Company Limited (SNEPCo), averaged 167,000 boe/d. read more

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Shell’s Climate Push Fails to Cut Emissions

Royal Dutch Shell Plc is demonstrating how tough it is for a massive, 100-year-old oil company to become a friend to the climate.

Shell’s greenhouse-gas emissions rose last year to the highest since 2014, it said Monday. The increase shows the challenge facing Chief Executive Officer Ben van Beurden as his company grows to meet burgeoning energy demand while investors demand a clear path toward a low-carbon future. 

“As living standards rise, energy demand could double over the course of the century,” Van Beurden said in Shell’s sustainability report. “The world is going to have to make meeting this demand part of the approach to cutting emissions.”  read more

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Shell says Nigeria payments and oil theft climb in 2017

Reuters Staff: APRIL 9, 2018 / 1:41 PM

LONDON, April 9 (Reuters) –

* Shell’s payments to the Nigerian government grew to $4.32 billion in 2017, up nearly 19 percent from $3.64 billion in 2016, according to its annual sustainability report released on Monday

* The bulk of the payments, $3.197 billion, went to state oil company NNPC for production entitlement 

* Crude oil theft from pipelines of Shell’s Nigerian subsidiary SPDC increased by some 50 percent, rising to roughly 9,000 barrels per day (bpd) in 2017 from 6,000 bpd in 2016, the report said. read more

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Shell pays out £41billion to governments globally in 2017

The firm also drew attention to a number of safety incidents in 2017 which it is working to address and provide support to victims for, including oil spills and theft in Nigeria, earthquakes in Groningen and a road tanker disaster in Pakistan.

Written by

The company has published the findings in a report to accommodate UK regulations requiring transparency on government payments.

It includes payments in 29 countries where Shell operates and does not include details related to refining, natural gas liquefaction, or gas-to-liquids activities which are not in the scope of UK regulations.

Shell made the largest contribution to Nigeria, paying over £3billion last year, while the smallest sum went to Bulgaria at £109million.

The funds for Nigeria include the government’s production entitlement, covering more than £2.1billion. read more

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Nigerian oil firm Neconde mounts arbitration case against Shell

The oilfield in question, Oil Mining Lease (OML) 42, is also at the center of corruption allegations. Shell filed a criminal complaint against a former employee in late March over suspected bribes in the $390 million sale of the field.

Alexis Akwagyiram, Chijioke Ohuocha: APRIL 9, 2018

LAGOS (Reuters) – Nigerian energy company Neconde has launched an arbitration case against Royal Dutch Shell, the West African firm’s chief executive said, alleging the oil major continued to lift crude and failed to remit funds after a lease had been sold.

The oilfield in question, Oil Mining Lease (OML) 42, is also at the center of corruption allegations. Shell filed a criminal complaint against a former employee in late March over suspected bribes in the $390 million sale of the field. read more

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Malabu Scandal: UK Opposition Leader Wants Govt Probed over Payments to Etete

The transactions were made by the U.S. bank when Royal Dutch Shell and Eni bought offshore oilfield OPL 245 from Malabu Oil and Gas in 2011. The $1.3 billion deal has spawned legal cases spanning several countries and involving Nigerian government officials and senior ENI and Shell executives, a number of whom would be facing trial in Italy on corruption charges next month.

Ejiofor Alike with agency reports

A Liberal Democrat and former British Business Secretary, Vince Cable, has called on the UK Home Office and National Crime Agency to explain themselves over the revelation that the country’s anti-money laundering agency allowed JP Morgan to transfer $875 million to a former Nigerian oil minister, Mr. Dan Etete. The transfers were made in relation to the Malabu oil deal, involving the controversial Oil Prospecting Lease (OPL) 245.

JP Morgan’s London branch had claimed it repeatedly sought consent from the Serious Organised Crime Agency (Soca) to pay the fund into accounts linked to Etete. The bank said instead of being told to block the transfers, it was authorised by Soca to make the payment. read more

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JP Morgan says it knew ex-minister linked to firm in Nigeria oilfield deal

Shell said in April last year that it “always knew” the Nigerian government would compensate Malabu and that Etete was involved. It had previously told Reuters only that payments went to the Nigerian government.

Julia Payne, Libby George: 7 April 2018

LONDON (Reuters) – JP Morgan Chase has acknowledged it knew a former Nigerian oil minister convicted of money laundering would benefit when it transferred over $800 million of government funds to a company he controlled, according to a court document seen by Reuters.

JP Morgan made the acknowledgement in its legal response to a lawsuit filed by Nigeria over transactions made by the U.S. bank when Royal Dutch Shell and Eni bought offshore oilfield OPL 245 from Malabu Oil and Gas in 2011. read more

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Facebook may need group therapy to fix its engineering culture

By Janet Guyon: 7 April 201

Two decades ago, like Facebook now, Shell found itself in an existential crisis, on the defense against environmentalists and political activists. Run by Dutch and British men, Shell was then the world’s most profitable company, and also viewed itself as the most responsible of the big oil firms; it was particularly concerned about how its global operations affected the world. As part of an effort to fix Shell’s culture and readjust its vision, the entire management team took the Myers-Briggs test. read more

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Shell foresaw climate dangers in 1988 and understood Big Oil’s big role

April 5 at 4:28 PM

A Dutch journalist has uncovered Royal Dutch Shell documents as old as 1988 that showed the oil company understood the gravity of climate change, the company’s large contribution to it and how hard it would be to stop it.

The 1988 report titled “The Greenhouse Effect” calculated that the Shell group alone was contributing 4 percent of global carbon-dioxide emissions through its oil, natural gas and coal products. “By the time global warming becomes detectable it could be too late to take effective countermeasures to reduce the effects or even to stabilize the situation,” the report warned. read more

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New Document Suggests Shell Knew About Climate Change 30 Years Ago

An internal Shell report from 1988 has revealed the supermajor was aware of the effect of its business on climate. The report, uncovered by Dutch journalist Jelmer Mommers from the De Correspondent news platform, has been published in the Climate Files and might just make life that much more difficult for the Anglo-Dutch company.

The document is an in-depth study of what was at the time called global warming with references to an earlier study and suggestions that the company was interested in researching climate change at least since 1981. read more

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Documents show Shell grappled with climate change years ago

Documents obtained by De Correspondent show that Shell Oil Co. studied climate change in the 1980s. De Correspondent

Two decades ago, a group of researchers envisioned a violent storm ripping through the East Coast with such force that it would transform young people into climate activists, spark lawsuits and cause government leaders to turn on fossil fuel companies. They were only off by two years. They also worked for Shell Oil Co. In 1998, Shell researchers wrote an internal memo about future scenarios that could harm their business. They determined that “only a crisis can lead to a large-scale change in this world,” according to the memo, recently uncovered by De Correspondent with a trove of company documents. read more

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Shell unveils Oman’s first solar-powered petrol station

Shell Oman has opened the first solar-powered service station in the Sultanate of Oman in Mukhaizna, Al Wusta Governorate.

FULL ARTICLE

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Environmental Group Vows To Sue Shell Over Climate Change

By Tsvetana Paraskova – Apr 04, 2018, 6:00 PM CDT

In the latest legal campaign against Big Oil, Friends of the Earth Netherlands vowed on Wednesday to take Shell to court if it doesn’t act on demands to align its corporate strategy with the global climate objectives.

“Shell is liable for its substantial contribution to climate change and for the associated social and environmental damages,” Friends of the Earth Netherlands, or Milieudefensie as it is known in Dutch, said in a letter sent to Shell’s chief executive Ben van Beurden today. read more

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Oil giants stay in their own backyards in U.S. auction

Jessica Resnick-Ault: APRIL 4, 2018 NEW YORK (Reuters) – The Trump administration heralded the government’s sale last month of U.S. drilling leases in the Gulf of Mexico as a bellwether. 

If that is the case, a Reuters analysis of the sale’s results shows reason to worry about demand in future offshore auctions.

The sale brought in $124.8 million, as just 1 percent of the 77 million acres (31.2 million hectares) offered found bidders. Reuters examined the acreage offered and leased, and nearly all the purchases show big drillers stuck closest to existing infrastructure, shunning the most far-flung areas.

While U.S. crude oil production reached a record last year at more than 10 million barrels a day, most new development is in onshore shale regions. The U.S. Interior Department has said it wants to open all U.S. coasts for drilling, including the Atlantic and Pacific. But the Gulf result indicates limited interest even in already-developed areas, never mind unexplored coasts. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

NGO threatens Shell with lawsuit over climate ‘destruction’

April 4. 2018

An environmental campaign group on Wednesday threatened to take Anglo-Dutch oil giant Royal Dutch Shell to court should it fail to comply with climate targets set out under the Paris Agreement.

“Friends of the Earth Netherlands announced today that they will take Shell to court if it does not act on demands to stop its destruction of the ,” the group said in a statement, accusing the firm of being “among the ten biggest climate polluters worldwide”. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Green group threatens Shell with court over climate change strategy

April 4, 2018

Dutch green group Milieudefensie says it will take oil giant Shell to court unless it adapts its business strategy in line with the climate goals of the Paris agreement.

Milieudefensie, also known as Friends of the Earth Netherlands, says it has given Shell eight weeks to make the relevant changes or face legal action. The group has drafted in lawyer Roger Cox, who won a 2015 climate case against the Dutch government, as legal counsel. ‘

This is the first time that legal action has been used to pressure a company to change its business model to avert catastrophic climate change,’ the organisation said. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Royal Dutch Shell threatened with climate change legal action

Friends of the Earth, the environmental group, said it would file a lawsuit in the Netherlands if Shell failed to commit within eight weeks to bring its business into line with the Paris climate agreement. The case against Shell is being led by Roger Cox, the lawyer who won a landmark judgment in 2015 forcing the Dutch government to set more ambitious carbon reduction targets.

FULL FT ARTICLE

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Friends of the Earth threatens to sue Shell over climate change contributions

Green group demands that the oil firm moves away from fossil fuels to comply with the Paris deal, in the latest of a rising number of climate litigation cases read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Nearly 100 people attend public hearing regarding Shell’s Falcon ethane pipeline

CENTER TWP. — Nearly 100 people turned out to a public hearing at Central Valley High School to voice their opinions on Shell Pipeline’s proposed Falcon ethane pipeline project.

If constructed, the pipeline would transport up to 107,000 barrels of ethane per day to Shell Chemicals’ $6 billion ethane cracker plant in Potter Township.

It would consist of two legs: one coming into western Beaver County from Ohio and West Virginia, and another coming into southern Beaver County through Allegheny County. The two legs will join south of the Potter Township plant. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

The Relevance Of Shell’s Sky Energy Scenario

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The internet is going gaga over Royal Dutch Shell’s new “Sky” scenario, which discusses the impact on the energy industry of efforts to limit climate change.  Many treat the existence of such a scenario developed by a major oil company as evidence that a) an important oil industry player expects this to happen, b) projections of a severe climate policy future are validated.

Writing as an aged methane emission, this is not really new.  In the 1990s, Shell was cited by many environmental advocates for appearing to have sided with them.  As Curtis and Romm said in 1996, “Imagine another world in which fossil-fuel use had begun a slow, steady decline; more than a third of the market for new electricity generation was supplied from renewable sources; the renewables industry had annual sales of $150 billion; and the fastest-growing new source of power was solar energy. An environmentalist’s fantasy, right? No, that’s one of two planning scenarios for three to four decades from now, developed by Royal Dutch/Shell Group, the world’s most profitable oil company, which is widely viewed as a bench mark for strategic planning.”  read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

British firms advised to skip Russia summit

Some of Britain’s biggest companies have been urged to boycott Russia’s main annual business summit in St Petersburg next month, amid growing political tensions triggered by the poisoning of Sergei Skripal and his daughter.

Bob Dudley, BP’s chief executive; Ben van Beurden, the chief executive of Royal Dutch Shell; and a number of other UK executives attended the St Petersburg International Economic Forum last year.

The event, hosted by President Putin, is due to be held this year on May 24-26, three weeks before the country hosts the football World Cup. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan

Shell risks fury as chief executive Ben van Beurden reaps £7.9m windfall

Pay: Shell chief Ben van Beurden took home nearly £8 million last year Ben Stansall/AFP/Getty Images

ANGELA JAMESON: 

Shell’s chief executive Ben van Beurden took home a bumper pay package of €8.9 million (£7.9 million) in 2017, as the firm cashed in on recovering oil prices.

The oil giant risked fresh criticism over the payout, following a row with investors last year. 

They said the Dutch chief executive’s long-term incentives were disproportionate compared with peers’. 
 
Van Beurden received a €3 million annual bonus in 2017 on top of his €1.49 million salary. The chief executive also picked up  €4.02 million in long-term bonuses and incentives, according to the group’s annual report. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnews.net and cybergriping.com are all owned by John Donovan
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